Adelphia Targets Year-End Sale Decision


The country’s fifth largest cable company said Friday it will initiate talks with potential buyers after Labor Day and hopes to finalize an auction by New Year’s, though if the price isn't right it could still try to reorganize.

Time Warner and Cox Communications have been considered the frontrunners for all or parts of Adelphia systems, but Cox Enterprises plans to take its cable unit private likely means Cox is out of the running. That would reduce the chances of any bidding war for all of Adelphia's operations or certain systems, like a slice of the Los Angeles market.

Adelphia is working with UBS and Allen & Company on the sale.